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Down payment assistance (DPA) in Florida is real—but it’s not “free money.” Most programs are second mortgages (deferred, forgivable, or low-payment) with strict rules, income limits, and paperwork. If you wait until after you’re under contract to figure it out, you’re asking for delays.
Below are the programs Miami-area buyers most commonly use in 2025–2026, plus the cleanest way to apply.
1) Florida Housing (statewide) — the main DPA umbrella
Florida Housing offers a first mortgage through approved lenders, and eligible borrowers can pair it with second-mortgage assistance for down payment/closing costs.
A) Homeownership Loan Program (HLP) Second Mortgage (statewide)
This option is $10,000 as a second mortgage at 3% fixed over a 15-year term (it has a monthly payment).
Best for: buyers who can handle a small monthly payment to reduce cash-to-close.
Common triggers for repayment acceleration: sale, refi, payoff of first, transfer of deed, or no longer occupying as primary residence.
B) Hometown Heroes (statewide; workforce-focused)
Florida Housing’s Hometown Heroes provides down payment/closing cost help as a 0%, non-amortizing, 30-year deferred second mortgage.
Assistance is up to 5% of the first mortgage amount (max $35,000, min $10,000).
It becomes due if you sell, refinance, transfer title, or stop using the home as your primary residence.
Timing reality: Hometown Heroes funding can open/close in waves. Treat it like “available until it isn’t,” not a guaranteed benefit.
C) HFA Preferred / HFA Advantage PLUS (conventional first mortgage pairing)
These provide 3%, 4%, or 5% of the loan amount as a forgivable second mortgage (commonly forgiven over time).
Best for: conventional buyers who want assistance without long-term repayment (assuming they stay in the home long enough to meet forgiveness terms).
2) Miami-Dade County Down Payment Assistance (local)
Miami-Dade County offers an interest-free loan up to $35,000 for down payment assistance for eligible first-time homebuyers, with published household income caps and program rules (like borrower contribution and CLTV limits).
Best for: buyers purchasing in Miami-Dade who fit the income guidelines and want a local program stack (sometimes stackable with other assistance depending on lender rules).
3) City of Miami First-Time Homebuyer Assistance (local — property must be inside City limits)
The City of Miami program provides 0% deferred loans to eligible first-time buyers purchasing within City of Miami boundaries, with income limits (e.g., ≤ 80% AMI) and a maximum sales price shown on the city page.
Brutal truth: Many buyers assume “Miami” means City of Miami. It doesn’t. If the folio doesn’t match City limits, you won’t qualify.
4) HFA Miami (Housing Finance Authority) — Miami-Dade specific
HFA Miami offers a first mortgage for first-time buyers in Miami-Dade, and once approved buyers can receive up to $15,000 in DPA as a deferred 0% second mortgage.
Who usually qualifies (the patterns)
Most DPA programs share these requirements:
- Primary residence (you must live there)
- First-time homebuyer definition often = no ownership in last 3 years (with exceptions in some programs)
- Income limits + purchase price limits (varies by county and household size)
- Homebuyer education (very common)
- Using a participating lender (you don’t apply directly like a grant website)
How to apply (without delaying your closing)
- Pick the program first (state vs county vs city vs HFA) and confirm property location rules.
- Get pre-approved with a participating lender who actually does that program (not “we can try”).
- Complete homebuyer education early so it’s not a last-minute condition. (Miami-Dade County)
- Prepare your documentation (bank statements, paystubs, W-2s, etc.). Use this internal checklist-style guide for prep:
- Write offers with realistic timelines. DPA adds an extra approval layer—short closings are where deals die.
And before you commit to a lender, use:
Bottom line
For 2025–2026, Florida buyers usually look at Florida Housing programs (HLP, Hometown Heroes, HFA Preferred/Advantage PLUS) plus Miami-Dade / City of Miami / HFA Miami options if they’re buying locally. The fastest closings happen when buyers treat DPA like underwriting: location-accurate, income-limit aware, lender-confirmed, and documented early.
